Building consents
  • Prior month 2.6% revised to 2.4%
  • New Zealand October Building consents -5.2%

Details

Key Facts

  • Seasonal Trends: New dwellings consented decreased by 5.2% in October 2024 (seasonally adjusted), following a 2.4% rise in September 2024.
  • Annual Totals:
    • 33,467 new dwellings consented in the year ended October 2024, a 16% decrease from the year ended October 2023.
    • The annual value of non-residential building work consented was $9.3 billion, a 3.5% decrease from the previous year.
  • Dwellings per Capita:
    • 6.3 new dwellings per 1,000 residents were consented in the year ended October 2024, compared to 7.6 per 1,000 in October 2023.

New Dwellings Consented in October 2024

A total of 2,850 new dwellings were consented, comprising:

  • 1,363 stand-alone houses
  • 1,174 townhouses, flats, and units
  • 183 apartments
  • 130 retirement village units

Monthly Variability

  • The number of dwellings consented can fluctuate significantly each month due to the timing of large multi-dwelling projects, such as townhouses and apartment buildings.

New Dwellings Consented Per 1,000 Residents

  • 2024 vs. 2023:
    • 6.3 dwellings per 1,000 residents in the year ended October 2024, compared to 7.6 per 1,000 in October 2023.
  • Historical Context:
    • The record high was 13.4 dwellings per 1,000 residents in the year ended December 1973.

Non-Residential Building Consents

  • Annual Value:
    • Non-residential building consents totaled $9.3 billion in the year ended October 2024, a 3.5% decrease from October 2023.
    • This decrease was partly influenced by rising non-residential construction prices, which were up 3.2% in the year ended September 2024 (as per the capital goods price index).
  • Top Non-Residential Building Types (2024):
    1. Offices, Administration, and Public Transport Buildings:
      • Valued at $1.8 billion, an increase of 26%.
    2. Hospitals, Nursing Homes, and Health Buildings:
      • Valued at $1.4 billion, a decline of 6.8%.
    3. Storage Buildings:
      • Valued at $1.3 billion, a decline of 13%.

In New Zealand, a building consent is an official approval granted by a Building Consent Authority (BCA), typically a local council, allowing specific building work to proceed on a designated site. This consent ensures that the proposed construction complies with the Building Code, confirming that the completed work will be safe, durable, and not pose health risks to occupants